Mich. Comp. Laws § 442.362

Violation; liability.

Michigan · Michigan Compiled Laws — ART MULTIPLES SALES ACT (Act 40 of 1987) · Status: effective

Cite this

Citation: Mich. Comp. Laws § 442.362, Violation; liability, Michigan, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1362405
Permanent ID: ys:prov:1362405@1
SHA-256: ab5781e96cb79381f545582b65bfafebbf806ec61dd42188ea3401882a187b3c

The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.

Full text

Except as provided in section 14, an art merchant, including an art merchant consignee, who violates this act by failing to provide required information or by supplying information which is false, mistaken, or erroneous, except for harmless error such as typographical error, is liable to the purchaser to whom the multiple was sold in an amount equal to the consideration paid by the purchaser, plus interest from the date of payment at the rate of 12% per year, compounded annually, upon return of the multiple in substantially the condition in which received by the purchaser.